The pandemic brought in an era of constant learning, meaning CEOs had to adapt to guiding their teams through the unknown, CNBC reported Oct. 7.
Leaders from across a diverse array of industries shared their views on steering their companies through the pandemic and dealing with constant upheavals at a CNBC Leadership Exchange. The fast-paced changes of the period meant that leaders had to adapt quickly and be flexible in their decision-making. Greg Becker, CEO of Silicon Valley Bank, told CNBC, "Whatever we decide the path forward is, three months after that, we will be changing it again."
In the time of uncertainty, leaders couldn't rely on their knowledge to make predictions, with Eric Starkloff, CEO of National Instruments, saying, "Predicting the future with the seismic shift of change is a fool's errand."
Adjusting to the virtual environment and new hybrid styles of work presented challenges to CEOs. Worker shortages and supply chain issues also put pressure on leaders, with Anita Jenkins, CEO of Howard University Hospital, citing nurse shortages as a pressure point.
However, leaders said that the pandemic-borne difficulties have prompted a change in strategy and management. The C-level executives are now more willing to accept their limitations, practice humility and embrace the unknown while guiding their organizations.
"We all came into these chairs as CEOs because we're really good at getting things done inside organizations, but the past 18 months, in particular, caused us to look outside organizations and to extend our purview," said Tony Coles, chair and CEO of Cerevel Therapeutics.